The tension between Iran and Israel reached the peak when Iran fired a missile in response to the Israeli attack. America's concern increased, Wall Street declined and crude oil prices caught fire.
Iran-Israeli confrontation created a global movement
The situation has become explosive once again in West Asia. In response to the Israeli missile attack, Iran reacted sharply and stained several missiles. This retaliation of Iran has raged a wave of concern all over the world including the US. This is not the first time that such military clashes have occurred between the two countries, but this time the matter has reached international markets.
America alert, wall street declines
After Iran's attack, the US immediately took a stand in support of Israel and put its defense equipment on alert mode. President Joe Biden said that the US is committed to protect Israel. Meanwhile, it had a profound impact on the US stock market Wall Street. Dow Jones, Nasdac and S&P 500 saw a huge decline. There was an atmosphere of fear among the investors and they started turning to safe options.
Crude oil prices caught fire
The biggest impact of this tension is on the energy market. The Middle East is an important center of the world's crude oil supply and any type of instability can disrupt the supply. The conflict between Iran and Israel has further increased this fear. As a result, crude oil prices suddenly increased by up to 5% in the international market. Brent crude oil prices have crossed $ 90 per barrel.
Global reactions and G-7 meeting
After the incident, the G-7 countries, including the United Nations, held emergency meetings and appealed to both sides to take restraint. The US and European countries have warned of further strict restrictions against Iran. India also advised its citizens
The increasing military tension between Iran and Israel is not limited to regional borders only, but it is affecting the entire global economy. America's strategic status, global market reactions and the possibility of energy crisis can prove challenging for the whole world in the coming times. This phenomenon shows that regional conflicts are now becoming a threat to global stability.
